Foreclosure Investing:Look what’s coming in 2010 for foreclosures

Hey D.C. Here,

I hope you had a great weekend.
The holidays are upon us. Me and Tyler went out Christmas shopping this weekend and there doesn’t look like there is any signs of a recession based on the crowds of people buying stuff at the mall.

We are almost in 2010 and there is huge influx of foreclosures coming in 2010 – more than we have now and I’m on a mission to ramp up your business. In order to ramp up your business, you need more hours in the day or you need to get some assistants – virtual assistants.

Tues night, I’m going to show you how you can get twice as much done doing half the work.
2010 is going to be your best years ever and My VSSI Live acceleration event in January is going to make that happen for you but you don’t have to wait until 2010 to jumpstart your business. We’re starting Tuesday night at 9:00 pm ET.

Join me here:

www.dcfawcett.com/go

Here’s an article I found written by Britanny Dunn 12/11/09 that shows what’s coming in 2010.
As many exotic adjustable rate mortgages (ARMs) are set to recast in 2010, the Consumer Mortgage Audit Center (CMAC) is projecting a mortgage crisis in 2010 as large as the subprime.

“We’ve spoken to Florida attorneys who sit at the forefront of the U.S. foreclosure crisis and have learned that 53 percent expect recasting ARMs to present a mortgage crisis as large as subprime and 61 percent expect to work on more loan modifications in 2010 than they did in 2009,” said Sylvia Alayon, VP of operations for CMAC “The New Year is going to hold very rude awakenings for some homeowners, but there are things you can do to analyze your situation and get help if you need it.”

Option ARMs enable borrowers to make monthly payments that are interest and principal, interest only, or just part of the interest due. After months and years of paying less than their full monthly payment of both interest and principal, many homeowners accumulate negative amortization. This means the amount of interest due on a loan becomes higher than the amount of the actual loan itself. As the majority of ARMs begin to recast in early 2010, housing bills will inflate, and many homeowners will be forced to repay the negative amortized balances.

“Recasting will undoubtedly lead to another wave of foreclosures as payments begin to double and triple,” Alayon said. “When principal balances go up and house values continue to plummet, refinancing will no longer be an option for homeowners in negative amortization.”

According to Alayon, only a few option ARMS in existence have been modified, but she believes many more homeowners will rush to modify their loans as they slip closer to negative amortization. Homeowners who act now to modify exotic mortgages may be saved from negative amortization and eventually foreclosure, Alayon said.

“Depending on each homeowner’s unique financial situation, we’ve seen everything from lenders modifying mortgages lower to make them affordable again to Fannie Mae allowing homeowners facing foreclosure to shift from homeownership to home rental,” said Alayon. “Options are out there, but you have to do some work to get to them.”

The data used to create CMAC’s prediction of a major mortgage crisis in 2010 came from the responses of 150 Florida Bar Association attorneys from November 3 to November 6, 2009, in a survey sponsored by CMAC. Responding attorneys specialized in real estate, general practice, civil law, and foreclosure defense.

As a due diligence and consulting company, CMAC specializes in the field of mortgage forensic research and analysis. The company boasts a specialized team of mortgage experts who are also members of the American College of Forensic Examiners and represent a combined experience of over 80 years in mortgage finance and law.

As you can see, we’re not even half way through this foreclosure crisis. Its only the tip of the iceberg and this next wave is going to be bigger that what we’ve seen in the past 2 years.

I’m going to prepare you for it so buckle your seatbelt and join me for the ride. We’re starting Tuesday night at 9:00 pm ET

Get access here:

www.dcfawcett.com/go

Talk to you on the training,

DC

P.S. If you are in my platinum group, your live coaching call with me is today at 4:00 pm ET. Don’t miss it. You were sent the info in a separate email.  I’m going to be sharing some recent short sale approvals we just got on deals for our platinum members. The profit spreads on these deals are over $100,000 each.